I'm in Arizona. I went to a dealership and was told they wanted to make a deal yesterday before months end. The car I originally wanted was a bit too high but they brought out another car. It has high miles on it and they put the person who originally co-signed as the main applicant to try to get an approval from the bank I guess. The way they put it, is they wanted to make the sell by months end, so by mid-day Monday they need me to come in with my deposit and proof of income and residency as well as references.
They mentioned the forms were dated and they needed everything ready that night in order to make the deal, they were giving me. If I were to wait, until today lets say to sign, they would of had to create a new document,etc because it's a new month.
I saw the carfax after the fact and saw it was in an accident a few months back which disabled the car, rear ended.
Me and the co-signer did sign all the forms and they said IF I do want to change my mind, I can but they'd hope I didn't go through all that trouble for nothing. It wasn't in writing.
So as of now, I want to back out of this. No money has exchanged hands, nor do they have any of the requested documents the bank requested.
Is it too late to back out or am I on the hook of actually coming through with all of this? I don't have the car in my possession, in fact, nothing was done with the exception of the documents being signed, which I do understand is a contract but does that put me on the hook or can I call and cancel this sell from happening as of now?
They mentioned the forms were dated and they needed everything ready that night in order to make the deal, they were giving me. If I were to wait, until today lets say to sign, they would of had to create a new document,etc because it's a new month.
I saw the carfax after the fact and saw it was in an accident a few months back which disabled the car, rear ended.
Me and the co-signer did sign all the forms and they said IF I do want to change my mind, I can but they'd hope I didn't go through all that trouble for nothing. It wasn't in writing.
So as of now, I want to back out of this. No money has exchanged hands, nor do they have any of the requested documents the bank requested.
Is it too late to back out or am I on the hook of actually coming through with all of this? I don't have the car in my possession, in fact, nothing was done with the exception of the documents being signed, which I do understand is a contract but does that put me on the hook or can I call and cancel this sell from happening as of now?
Sales Agreements: Am I on the Hook for the Car or Can I Walk Away at This Point
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